This photo taken on April 23, 2020, shows a traffic light that turned red against the background of Hyundai Motor’s headquarters building in Yangjae, southern Seoul. (Yonhap)
SEOUL, April 28 (Korea Bizwire) — Hyundai Motor Co.’s planned 300 billion won (US$240 million) worth of corporate bond sales have received a strong market response despite the coronavirus impact on the automobile sector, financial sources said Tuesday.
Hyundai will sell the debt with a maturity period of three to seven years on May 8, to secure operating capital, as COVID-19 has driven down vehicle production and sales in major markets.
According to the sources, Hyundai Motor’s debt offerings have received 1.41 trillion won worth of orders, more than three times higher than the planned issuance.
Hyundai is expected to double the value of corporate bond issuance to 600 billion won, he said.
Hyundai Motor Co.’s planned 300 billion won (US$240 million) worth of corporate bond sales have received a strong market response despite the coronavirus impact on the automobile sector, financial sources said Tuesday.
Hyundai will sell the debt with a maturity period of three to seven years on May 8, to secure operating capital, as COVID-19 has driven down vehicle production and sales in major markets.
According to the sources, Hyundai Motor’s debt offerings have received 1.41 trillion won worth of orders, more than three times higher than the planned issuance.
Hyundai is expected to double the value of corporate bond issuance to 600 billion won, he said.
(Yonhap)
